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106 Erie Avenue A, B, C, Folly Beach, SC 29439
$3,375,000
Property Type:
MultiFamily
Square Footage:
5,657
Lot Size (sq. ft.):
10,454
Status:
Closed
Current Price:
$4,750,000
List Date:
12/22/2021
Last Modified:
12/15/2023
Description
This Luxury Simplified custom designed commercial multi-family development was completed in 2019 and is ½ a block from Center Street. The 'Retreats on Hudson' commercial development includes three single family homes with each property having a private swimming pool. There are two, three-bedroom properties with over 1,500 ft^ living space, and one-five bedroom property with ~2,400 ft^ living space. This development was designed to provide the owners with the ability to maximize vacation rental income by utilizing a hybrid marketing approach. This development is rented as singles, a six-bedroom option, and a 10-11 bedroom compound and continues to satisfy the consumer demand for unique luxury multi-family vacation rental options in Charleston.
Supplements: Each single property has a private pool, but when rented as a multi-family the exterior garden space opens to the other, providing the ability to entertain easily between each unit. This luxury commercial development gross income currently exceeds $430K annually, and is on track to exceed this income in 2022. Call listing agent for additional financial information.
More Information MLS# 21032914
Contract Info
Primary Structure List Price/SqFt: 839.67
MLS List Date: 2021-12-22
Status: Closed
List Price: $4,750,000
Current Price: $3,375,000
Location, Tax & Legal
Unit #: A, B, C
Legal Description: Lt 103 E Erie
Tax Map #: 3281400120
Street #: 106
Street Name: Erie
Street Suffix: Avenue
County: Charleston
State: SC
Zip Code: 29439
Area: 22 - Folly Beach to Battery Island
Tax District: 37 - City of Folly Beach
Subdivision: Folly Beach
Elementary School: James Island
Middle School: Camp Road
High School: James Island Charter
Directions: From Folly Road turn left on E Erie. Property will be on your left
General Property Info
# Stories: 2
Lease Purchase: No
Potential Short Sale: No
Number of Units: 3
Primary Structure Apx SqFt: 5657
Year Built: 2019
Acreage: 0.24
Income, Expenses & Fees
Gross Income: 431000
Status Change Info
Sold Price/SqFt: 596.61
New Mortgage Type: Conventional
Sold Date: 2022-04-04
SqFt Source
Builder/Owner: 1
Unit 1
SqFt: 2393
Bedrooms: 5
Baths: 4
Unit 2
SqFt: 1632
Bedrooms: 3
Baths: 2.5
Unit 3
SqFt: 1632
Bedrooms: 3
Baths: 2.5
Architectural Style
Single Family Detached: 1
Triplex: 1
New Owned/Pre-owned
Pre-Owned: 1
Equipment/Appliances
Ceiling Fan: 1
Dishwasher: 1
Dryer: 1
Washer: 1
Cooling
Central Air: 1
Heat
Electric: 1
Amenities
Pool: 1
Possession
Negotiable: 1
Tenants Rights: 1
Property Features
SqFt Source: Builder/Owner
Architectural Style: Single Family Detached; Triplex
Cooling: Central Air
Heat: Electric
Amenities: Pool
Possession: Negotiable; Tenants Rights
Listing Office:
Luxury Simplified Real Estate, INC
Last Updated: December - 15 - 2023
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